Scaling from Freelancer to Business Owner

Chairman and CEO David Spector, in weighing Rocket Cos.' purchase of Mr. Cooper, suggested Pennymac's balanced business model couldn't be duplicated. View the full article

A federal judge has ordered a staff member of the Department of Government Efficiency and the Consumer Financial Protection Bureau's top lawyer to appear at an evidentiary hearing next week. View the full article

In a recent interview, Bill Pulte claimed he's signed 80 orders for the agency, although only a dozen have been made public via his social media feed. View the full article

In the megabank's latest sign of progress with regulators, it said that a 7-year-old CFPB order has been terminated. View the full article

The reverse stock split, consolidating eight shares into one, is designed to bring the Luxembourg-based company back into listing compliance on Nasdaq. View the full article

Purchases of new single-family homes increased 11% last month to a 743,000 annual rate, the highest level since February 2022, according to government data. View the full article

The transaction is the fourth of its type the company has done this year through the partnership it has had with Crosscountry Mortgage since late 2022. View the full article

The Consumer Financial Protection Bureau has withdrawn guidance that allowed states to bring enforcement actions broadly under federal consumer protection laws. View the full article

The closely watched case centers on bank allegations the government corporation promised certain reverse-mortgage assets in return for funding then reneged. View the full article

Close to 300 former employees could be eligible for the settlement once it is officially approved later this year. View the full article

Originators feel neutral about bombshell acquisitions and regulation news, remaining focused on inventory, mortgages rates and costs, an NMN survey says. View the full article

During its meeting last month, some members of the Federal Reserve's monetary policy committee expressed concern about persistent supply-chain disruptions while others were confident price growth would be constrained. View the full article

The broad rise in the share of underwater loans across the country this winter came as borrower distress grew and home prices pulled back in some regions. View the full article

The Consumer Financial Protection Bureau under President The President plans to make changes to the rule governing consumer financial data rights despite rare bipartisan support for the regulation. View the full article

While mortgage originations increased, borrowers focused their attention on big-ticket items, as credit account balances flattened overall, Vantagescore said. View the full article

Plaintiffs raise prior accusations that the lender ignored applicants' debts in collections, and used unreasonable residual income calculations. View the full article

Federal Reserve Gov. Adriana Kugler said tighter monetary policy has proved to be less impactful on nonbank lenders during the post-pandemic era. View the full article

Over 100,000 loans for first-time home buyers have been pooled and securitized in issuances this year, the guarantor of government-backed loans said. View the full article

Sen. Dick Durbin, the Senate's No. 2 Democrat, announced he will not seek reelection in 2026, concluding more than four decades in Congress. The Illinois lawmaker leaves behind a notable imprint on U.S. financial policy, particularly regarding swipe fees. View the full article